Well I must admit that 2011 has been an interesting year.
For me I have experienced an improvement on 2010.
The most noticeable sector was the return of the First Home Buyers and I am now seeing Investors tipping their toes in the water for a look see.
Interest rates had been stable for 12 months then in November and December of this year we received early Xmas presents with the Reserve Bank dropping official interest rates.
November delived the news that the Gold Coast is to host the 2018 Commonwealth Games which will bring a much needed stimulus to our sluggish economy.
We are now hearing with the ongoing European financial woes that there is a good liklihood that interest rates will drop even further in 2012.
That in itself will further improve confidence in our economy.
We do hear that the banks may not be in a position to pass on further interest rate cuts in full when handed down by the Reserve Bank but I don’t think that will have an negative effect.
So long as consumers see interest rates won’t be increasing too soon I believe we will continue to experience an improvement in our property market.
Driving along Hedges Avenue since the weekend I have noticed a number of ‘SOLD’ signs have appeared.
Personally, I have received 4 new purchase contracts since the weekend to arrange finance for the buyers plus another 3 ‘pre-approval’ loan applications in the last week for clients looking to buy in the new year.
All in all, things are looking positive heading into 2012.
With that said, I will be out of the office from COB tomorrow December 22 and returning January 3. I will still be monitoring all files still in progress while away.
I would like to take the opportunity to wish everyone a very Merry Christmas plus a Happy and Prosperous 2012.
Till next year, stay safe.
DR
